Za Za Gabor’s 7th husband is reported to have complained on their wedding night “I know what is expected of me, I just don’t know how to make it different”. That is exactly my challenge in writing this article.
We have handled incoming International business from the USA and Europe for several years and have slowly established that whilst London may be the world centre of insurance capacity and expertise, Birmingham too is a centre of excellence. We are committed to the provision of a close personal service of the needs of UK based subsidiaries whether they are a 2/3 person sales office, a distribution warehouse or a full blown manufacturing or assembly plant. Our introducing friends from Harrisonburg or from Hamburg like the absence of arrogance they find in London, our commitment to understand their customers business risk exposures and our service provision, whether the account pays £2,000 or £200,000. None of this is different to us, it is how we are to all our customers, international or domestic.
With the disastrous news of the impact of the so called Credit crunch on American businesses as described on so graphically by the UK press and media, we decided to find out the reality for ourselves. Additionally it was an opportunity to open some new doors or renew flagging relationships so we concentrated on Washington, the Carolinas and Virginia.
I was in Charlotte 2 years ago, a thriving dynamic city and the second largest banking centre after New York. In 2009 Wachovia Bank has disappeared into Wells Fargo leaving multi floored city centre office blocks resembling the beginning of a ghost town. Bank of America is tottering on the brink and their numerous divisions are being scaled down or closed. Executive positions are virtually non existent and the reality of long term unemployment is stark, but are people downhearted, absolutely not!
Boutique firms are springing up showing the swiftness of decision making and the flexibility of approach that their former employers had forsaken in the dubious quest for growth. The city has galvanised itself sending teams into other States, into Europe and Asia persuading potential investors that the quality of life, the infra structure and the resources in Charlotte makes it the obvious location for their investment and these efforts are paying off.
It is this ‘can do’ approach and the willingness to find other options that I found in Greensboro, in Raleigh, in Richmond and all the other towns and cities that were on my 976 mile journey. Construction is decimated, housing remains flat but everyone believes President Obama’s commitment to highways, bridges and other national projects will re-stimulate the economy. Americans are looking for the alternative answer, the new idea or innovation, the excitement of the unknown. I sensed in middle class America an acceptance that what they have had, has gone and they will replace it with something else.
The USA remains the West’s principal economic driver and if you don’t concentrate on it, remembering the three R’s of Research, Resource and Renewal at all times, you will miss out!
BABC Midlands
June Newsletter 2009
BABC Midlands
75 Harborne Road
Edgbaston
Birmingham
B15 3DH
Tel: 0121 454 6171 ext 2008
Fax: 0121 607 0130
Email: babcmidlands@babc.org.uk
Web: http://www.babcmidlands.org.uk
